DAPP vs. TECL

Last updated Jun 5, 2026

DAPP (VanEck Digital Transformation ETF) and TECL (Direxion Daily Technology Bull 3X Shares) are both exchange-traded funds - DAPP is a Technology Equities fund tracking the MVIS Global Digital Assets Equity Index, while TECL is a Leveraged Equities fund tracking the Technology Select Sector Index (300%). Both are passively managed. Over the past 5 years, DAPP returned -0.41%/yr vs 42.11%/yr for TECL. A 0.58 correlation means they provide meaningful diversification when combined. DAPP charges 0.50%/yr vs 0.91%/yr for TECL.

Performance

DAPP vs. TECL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Digital Transformation ETF (DAPP) and Direxion Daily Technology Bull 3X Shares (TECL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAPP achieves a 31.34% return, which is significantly lower than TECL's 115.57% return.

DAPP

• 1D: -1.27%
• 1M: 4.58%
• YTD: 31.34%
• 6M: 10.15%
• 1Y: 50.76%
• 3Y*: 59.16%
• 5Y*: -0.41%
• 10Y*: —

TECL

• 1D: -4.56%
• 1M: 55.10%
• YTD: 115.57%
• 6M: 106.65%
• 1Y: 249.35%
• 3Y*: 78.93%
• 5Y*: 42.11%
• 10Y*: 53.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DAPP vs. TECL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DAPP VanEck Digital Transformation ETF	31.34%	15.03%	44.87%	285.02%	-85.60%	-38.65%
TECL Direxion Daily Technology Bull 3X Shares	115.57%	38.60%	36.15%	203.14%	-74.32%	75.98%

Correlation

The correlation between DAPP and TECL is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021	0.58

The correlation between DAPP and TECL has been stable across timeframes, ranging from 0.51 to 0.60 - a consistent structural relationship.

DAPP vs. TECL - Sectors Allocation Comparison

Sectors	DAPP	TECL
Financial Services	68.5%	-
Technology	28.8%	20.4%
Consumer Cyclical	2.7%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	0.0%
Healthcare	-	-
Industrials	-	0.0%
Real Estate	-	-
Utilities	-	-

Return for Risk

DAPP vs. TECL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DAPP

DAPP Risk / Return Rank: 24
DAPP Sharpe Ratio Rank: 24
DAPP Sortino Ratio Rank: 27
DAPP Omega Ratio Rank: 26
DAPP Calmar Ratio Rank: 24
DAPP Martin Ratio Rank: 19

TECL

TECL Risk / Return Rank: 84
TECL Sharpe Ratio Rank: 96
TECL Sortino Ratio Rank: 79
TECL Omega Ratio Rank: 78
TECL Calmar Ratio Rank: 89
TECL Martin Ratio Rank: 80

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DAPP vs. TECL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Digital Transformation ETF (DAPP) and Direxion Daily Technology Bull 3X Shares (TECL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DAPP	TECL	Difference
Sharpe ratio: Return per unit of total volatility	0.83	4.03	-3.20
Sortino ratio: Return per unit of downside risk	1.45	3.52	-2.06
Omega ratio: Gain probability vs. loss probability	1.17	1.46	-0.29
Calmar ratio: Return relative to maximum drawdown	1.06	5.39	-4.33
Martin ratio: Return relative to average drawdown	2.07	15.48	-13.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DAPP vs. TECL - Sharpe Ratio Comparison

The current DAPP Sharpe Ratio is 0.83, which is lower than the TECL Sharpe Ratio of 4.03. The chart below compares the historical Sharpe Ratios of DAPP and TECL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DAPP	TECL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	4.03	-3.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	0.57	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.74	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	0.76	-0.83

Drawdowns

DAPP vs. TECL - Drawdown Comparison

The maximum DAPP drawdown since its inception was -91.90%, which is greater than TECL's maximum drawdown of -77.96%. Use the drawdown chart below to compare losses from any high point for DAPP and TECL.

Drawdown Indicators

	DAPP	TECL	Difference
Max Drawdown Largest peak-to-trough decline	-91.90%	-77.96%	-13.94%
Max Drawdown (1Y) Largest decline over 1 year	-48.21%	-46.58%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-58.88%	-66.58%	+7.70%
Max Drawdown (5Y) Largest decline over 5 years	-91.90%	-77.96%	-13.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-77.96%	—
Current Drawdown Current decline from peak	-27.99%	-7.42%	-20.57%
Average Drawdown Average peak-to-trough decline	-57.40%	-18.38%	-39.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.58%	16.19%	+8.39%

Volatility

DAPP vs. TECL - Volatility Comparison

The current volatility for VanEck Digital Transformation ETF (DAPP) is 15.08%, while Direxion Daily Technology Bull 3X Shares (TECL) has a volatility of 21.53%. This indicates that DAPP experiences smaller price fluctuations and is considered to be less risky than TECL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAPP	TECL	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.08%	21.53%	-6.45%
Volatility (6M) Calculated over the trailing 6-month period	46.27%	50.05%	-3.78%
Volatility (1Y) Calculated over the trailing 1-year period	61.53%	62.27%	-0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.90%	74.08%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.62%	72.35%	+0.27%

DAPP vs. TECL - Expense Ratio Comparison

DAPP has a 0.50% expense ratio, which is lower than TECL's 0.91% expense ratio.

Dividends

DAPP vs. TECL - Dividend Comparison

DAPP has not paid dividends to shareholders, while TECL's dividend yield for the trailing twelve months is around 3.30%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DAPP VanEck Digital Transformation ETF	0.00%	0.00%	4.04%	0.00%	0.00%	10.13%	0.00%	0.00%	0.00%	0.00%
TECL Direxion Daily Technology Bull 3X Shares	3.30%	7.19%	0.29%	0.28%	0.22%	0.32%	0.52%	0.25%	0.47%	0.10%

Frequently Asked Questions

Can I hold both DAPP and TECL in my portfolio?

DAPP and TECL have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAPP or TECL?

TECL has higher volatility (21.53%) compared to DAPP (15.08%). In terms of maximum drawdown, DAPP dropped -91.90% vs TECL's -77.96%.

Which ETF is better, DAPP or TECL?

On 5-year performance, TECL leads with 42.11% vs -0.41% for DAPP. On fees, DAPP is cheaper at 0.50% per year. On volatility, DAPP has been the lower-risk option at 15.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAPP or TECL?

Over the 5-year period, TECL has performed better with a 42.11% return vs -0.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAPP or TECL?

DAPP is cheaper with a 0.50% expense ratio, compared with 0.91% for TECL.

Which ETF pays a higher dividend yield, DAPP or TECL?

TECL has the higher dividend yield at 3.30%, compared with 0.00% for DAPP.

What is the main difference between DAPP and TECL?

DAPP is categorized as Technology Equities, while TECL is Leveraged Equities. DAPP tracks MVIS Global Digital Assets Equity Index, while TECL tracks Technology Select Sector Index (300%). They also come from different issuers: VanEck and Direxion. Their fees differ too: 0.50% for DAPP and 0.91% for TECL.

Which has better risk-adjusted returns?

TECL currently has the higher Sharpe Ratio (4.03 vs 0.83), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.